Article courtesy of Trailer magazine.
The Western Australian Government has launched the Resources Community Investment Initiative which will facilitate investment in iconic state infrastructure projects and community and social initiatives across WA.
Established with founding partners, Rio Tinto, BHP, Hancock Prospecting, Roy Hill, Atlas Iron, Woodside Energy, Chevron Australia and Mineral Resources, the initiative provides a State Government-backed platform for direct contribution to iconic infrastructure and social projects.
The initial commitments total $750 million, with $250 million from Rio Tinto, $250 million from BHP, $100 million from Hancock Prospecting, Roy Hill and Atlas Iron, $50 million from Woodside Energy, $50 million from Chevron Australia and $50 million from Mineral and Resources.
The initiative will also extend to include transformational projects across WA, enabling companies to contribute to achieving long-term social and economic outcomes in each region.
WA Premier, Mark McGowan, said the strength of WA’s economy has placed it in a good position.
“We are proud that the partnership between our government and the resources sector enables us to continue to help make our state an even better place to live,” he said.
“I commend the efforts of Rio Tinto, BHP, Hancock Prospecting, Roy Hill, Atlas Iron, Woodside Energy, Chevron Australia and Mineral Resources as foundation partners of the initiative and acknowledge their leadership in contributing to our state in this capacity, which will have lasting benefits for generations.
“I am confident that other resources companies across WA will join this worthwhile initiative and look forward to seeing some iconic state projects delivered.”
Each company involved will decide the projects they wish to nominate funding to, and individual project agreements will be established with agreed project milestones.
An advisory committee comprising of an independent chair as well as government and industry representatives will be convened to oversee the initiative.
